Landlords are in the profession of sticky situations, and a lot of them don’t know it. As a landlord, you are at a risk for lawsuits and liability at just about every turn. Even when you work with your tenants’ best interests at heart, you still might get caught up in liability issues. To avoid common landlord liability problems, you simply need to educate yourself and be aware.
Tom Lucier wrote a great, comprehensive piece describing how landlords should protect themselves, what insurance they must carry, tips for limiting liability, and a list of exactly what your coverage should protect you against. You can read it here.
Looking for a more official resource? NOLO has its own encyclopedia of legalese for landlords to use. Their database includes tenant injuries, pet ownership, environmental hazards, and criminal activity. Check it out here. They also share a list of 10 best practices for low-risk landlording.
So, what CAN you be held liable for as a landlord? Turns out, if you don’t pay attention, it’s quite a bit. All Law provides a starting point for landlords to consider in what circumstances they could be held liable for injuries, theft, etc. Trusted Choice elaborates on the issue of liability while offering specific scenarios as examples.
A few timeless tips for landlords:
- Have the right insurance. Do the research and be sure you’re covered.
- Visit the property regularly, or hire a property manager to do so. This way, you can catch potential liabilities before they happen. (Dangerous-looking tree branch over your tenants’ bedroom? Front steps notoriously icy? These issues could have huge repercussions, but they’re easily preventable.)
- Hire trustworthy tenants. When you and your tenants have a strong relationship of trust and communication, it’s easy to find potential issues with the property and work them out together.
- Have a plan. Whether it’s for natural disasters, burst pipes, or lawsuits, you and your team should always have a plan in place. Swift action provides better service to your client and allows you to rectify the issue in a more timely manner.
Additional source
*This is not to be considered official legal advice, rather a guide for landlords to explore their own practices.
